1. ABC Company and is 70% owned subsidiary DEF Company have the following income statements for 2019. ABC Company DEF Company Revenues (300,000) (100,000) Cost of Goods Sold 150,000 30,000 Depreciation & Amortization 20,000 15,000 Other Expenses 20,000 5,000 Gain on Sale of Equipment (15,000) Equity in Earnings of Knight (31,500) Net Income (156,500) (50,000) Additional information for 2020 ABC Company pays $30,000 in dividends. DEF Company pays $10,000 in Dividends During the year, consolidated inventory decreassed by $6,000. Accounts receivable increased $2,000. Accounts payable decreased $3,000. Accrued expenses increased $5,000. Annual excess amortization from the acquisitions is $5,000 for 2019. Intra-entity inventory transfers during the year amount to $40,000. All intra-entity transfers were downstream from ABC Company to DEF Company. Intra-entity gross profits in inventory at January 1 were $3,00, but at December 31, they are $1,000. The non-controlling interest share of the subsidiary's income is $13,500 Use the indirect method to compute the net cash flows from operating activities during the period for the business combination